The Federal Reserve Bank of Dallas established the Globalization Institute in 2007 for the purpose of better understanding how the process of deepening economic integration between the countries of the world, or globalization, alters the environment in which U.S. monetary policy decisions are made.

DALLAS—Texas service sector activity picked up in January, according to the Federal Reserve Bank of Dallas’ Texas Service Sector Outlook Survey.

The TSSOS revenue index—a key measure of state service sector conditions—rose from 16.8 to 18.1, its highest reading since February 2012.

The survey isconducted monthly by the Dallas Fed to obtain a timely assessment of activity in the state’s service sector, which represents 60 percent of the state economy and employs close to 7.3 million workers.

Labor market indicators were mixed. The employment index edged up from 9.8 to 11.9, indicating net hiring picked up in January. The hours worked index ticked down into negative territory, suggesting shorter workweeks.

Perceptions of broader economic conditions reflected more optimism in January. The general business activity index rose from 13.3 to 16.8.

Indexes of future service sector activity remained in solid positive territory.

TSSOS also includes a component called the Texas Retail Outlook Survey, which uses information from respondents in the retail and wholesale sectors only.

Retail sales climbed again in January, according to business executives responding to the Texas Retail Outlook Survey. The sales index rose from 17.4 to 20.7, signaling stronger growth.

Indexes of future retail sector activity remained in solid positive territory this month.